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InterContinental Hotels Doubles First-quarter Pretax Profits; Plans to Sell Up to UKpound 500 million of Hotels / May 2004
February 28, 2004
Hotel Online News for the Hospitality ExecutiveBy Caroline Byrne, Daily Mail, LondonKnight Ridder/Tribune Business News May 28, 2004 - The world's largest hotel chain, InterContinental Hotels, doubled first-quarter pretax profits to UKpound 50 million after a rebound in travel on both sides of the Atlantic despite terror threats. Asia Pacific sales returned to levels last seen before the Sars outbreak. Chief executive Richard North said there were tentative signs of a European recovery, particularly in Eastern Europe. But Paris remains weak. "We are very encouraged but there is still much to do," said North. "The first half of 2003 ...
February 28, 2004
Hotel Online Special Report Discount Hotels London, Sydney, Rome, AmsterdamParis, Melbourne, Lisbon, Barcelona, Berlin, Hong Kong, New York, Auckland Discount Hotels London, Sydney, Rome, AmsterdamParis, Melbourne, Lisbon, Barcelona, Berlin, Hong Kong, New York, Auckland Hotel Owner Leadership Development Program Created by The Owners Association of InterContinental Hotels and InterContinental Hotels Group ATLANTA (May 25, 2004) The Owners Association of InterContinental Hotels Group (the IAHI) and InterContinental Hotels Group [LON: IHG, NYSE: IHG (ADRs)], the worlds most...
Hyatt International Appoints Four to GM Posts / May 2004
February 28, 2004
Hotel Online Special Report Hyatt International Appoints Four to GM Posts Chicago, IL, May 20, 2004 - Mr. Bernd Chorengel, president of Hyatt International Corporation, is pleased to announce the following executive appointments: Stephen Ansell has been appointed general manager of Hyatt Regency Bishkek. Ansell, a graduate of Portsmouth University in the United Kingdom, consolidated his studies with food and beverage management experience in Munich, Mainz and Hong Kong before joining Hyatt International in December 1996 as director of food and beverage at the Hyatt Regency Riyadh. In March 2000, he was app...
Houston Hotels Enjoyed 31% Jump in Revenue in January and February; Super Bowl Provides Spike in Revenue but Not Occupancy / May 2004
February 28, 2004
Hotel Online News for the Hospitality ExecutiveBy Bill Murphy, Houston ChronicleKnight Ridder/Tribune Business News May 19, 2004 - In the months leading up to the Super Bowl, state Comptroller Carole Keeton Strayhorn estimated that the game and related festivities would have a $336 million economic impact on the Houston area. Local organizers were only slightly less optimistic, claiming a $300 million impact for hotels, restaurants, nightclubs, caterers, golf courses, gift shops and sundry others. More than three months after the Feb. 1 game, the verdict is unclear. Local hotels experienced a 31 percent jump in revenue in January and ...
Almost 400,000 Employed as Hotel Housekeepers in U.S.; San Antonio Hotel Veterans Love the Work / May 2004
February 28, 2004
Hotel Online News for the Hospitality ExecutiveBy Meena Thiruvengadam, San Antonio Express-NewsKnight Ridder/Tribune Business News May 23, 2004 - Edith Balusek has been cleaning up other people's messes for 37 years. Her workdays start at 6:30 in the morning and usually go on until 5 or 6 in the evening. "Our job is to keep the hotel clean," said the Menger Hotel executive housekeeper. For her, that means scheduling staff, tracking inventory, ordering supplies and picking up after guests. For her staff, that means scrubbing floors, vacuuming carpets, making beds, cleaning bathrooms, fixing things and doing laundry. Balusek supervises...
Cornell Report Aims to Maximize the Economic Value of the Hospitality Workforce / May 2004
February 28, 2004
Hotel Online Special Report Cornell Report Aims to Maximize the Economic Value of the Hospitality Workforce ITHACA, NY, May 20, 2004 -- Although scheduling employees is a complex task, it's worth doing well. A proper schedule can boost an operation's profitability, according to a new report issued by The Center for Hospitality Research at Cornell University. That's because a well constructed schedule both ensures proper service levels and controls costs-ultimately delivering more profit for an operation. The report, written by School of Hotel Administration Professor Gary M. Thompson, offers a comprehensive fram...
The Average Selling Price per Hotel Room in 2003 was $70,308, 16% Increase from Prior Year / Lodging Econometrics Sales and Pricing Trends Report / Ma
February 28, 2004
Hotel Online Special Report The Average Selling Price per Hotel Room in 2003 Was $70,308, 16% Increase from Prior Year Lodging Econometric's Sales and Pricing Trends Report Record Transaction Volume in 2003 May 20, 2004 - Lodging Econometrics (LE) released its Sales and Pricing Trends Report for 2003, showing that 573 hotels with reported selling prices, having 79,790 rooms, were traded. Total sales amounted to a record $5.6 billion. The average selling price per room was $70,308 a 16% increase off the cyclical bottom established in 02. When all transactions were accounted for, including merger and ...
Hotel Revenue Management this Summer – a Game of Skill, Art and Most of All Nerves / Carol Verret / May 2004
February 28, 2004
Carol Verret Consulting and Training Consulting Training Seminars . Hotel Revenue Management this Summer . - a Game of Skill, Art and Most of All Nerves . Carol Verret / May 2004 May 2004 Recent studies by several respected research firms indicate both good news and reasons to be cautious about the 2004 summer travel season. Both the TIA and Yesawich, Pepperdine, Brown forecast an increase in leisure travel for 2004. TIA forecasts an increase of 3.2% over 2003, which is an improvement although certainly not stunning given last year's lackluster performance. Yesawhich and partners indicate that 33% of ...
Hotels First Ventured into Retail Amenity Sales Offering Robes for Sale; Now Guests Are Laying Out $4,000 for a Complete Ritz Carlton Bed Set, The
February 28, 2004
Hotel Online News for the Hospitality ExecutiveBy Jennifer Alsever, The Denver PostKnight Ridder/Tribune Business News May 23, 2004 - Ever wish you could sleep as if you were on vacation? For $4,000, you can buy a hotel bed. High-end hotels, coming off three years of record-low occupancies, have turned guest rooms into virtual retail showrooms, offering for sale nearly everything in the room. "It's catchy, it's new, it's different," said Robert Mandelbaum, an Atlanta director at PKF Consulting, a hospitality research firm. "But I don't think most people think, 'Oh, wow, let's go buy hotel furniture.'" Still, high-end hotel chains say ...
February 28, 2004
Hotel Online Special Report Essentials of Hotel Ownership Symposium Recognized the Complexities of Hotel Ownership CHICAGO May 7, 2004 A new conference held last month that recognized the complexities of hotel ownership is receiving rave reviews from attendees. According to Morris Lasky, president of Lodging Unlimited and co-producer of the one-day event, a second half-day conference is now planned for June 9 at the Waldorf-Astoria Hotel in New York in response to demand from hoteliers, lenders and others who were unable to attend the first event. "The one-day Essentials of Hotel Ownership sym...
Hotel Life Expectancy / Canadian Lodging Outlook – March 2004 Year-to-Date / May 2004
February 28, 2004
Hotel Online Special Report Hotel Life Expectancy CANADIAN LODGING OUTLOOK March 2004 Year-to-Date The Canadian Lodging Outlook is a joint monthly publication of Smith Travel Research and HVS International, Vancouver and Toronto, Canada . By: Stephen Rushmore,MAI, CHA, HVS International - New York You're driving down a street and you notice two hotels. Both appear neat, clean and orderly. One has exterior corridors, a flat roof that reveals the air-conditioning fan units, an out-of-date Tudor-style brick exterior, a plain, square swimming pool, and a small guestroom converted to a fitness room. The other has inter...
Hotel Appraisals Becoming More Difficult in Face of Demands to Value Intangible Assets / Lawrence E. Henry, MAI / May 2004
February 28, 2004
Hotel Online Special Report Hotel Appraisals Becoming More Difficult in Face of Demands to Value Intangible Assets Choppy Waters on the Appraisal Sea by Lawrence E. Henry, MAI May 2004 Increasing pressure on appraisers to value a propertys intangible assets is making hotel appraisals a trickier process. The difficulty springs from an inherent vagueness in the way the rules may be applied, since there is no consensus for quantifying the value of Total Intangible Assets. As always, hotel owners and lenders need to be aware of the role opinion may play in the value of their property. As an old salt ap...
February 28, 2004
Hotel Online Special Report Discount Hotels London, Sydney, Rome, AmsterdamParis, Melbourne, Lisbon, Barcelona, Berlin, Hong Kong, New York, Auckland Discount Hotels London, Sydney, Rome, AmsterdamParis, Melbourne, Lisbon, Barcelona, Berlin, Hong Kong, New York, Auckland The 146-suite Homewood Suites on San Antonios Riverwalk Acquired by Innkeepers USA Trust for $21 million PALM BEACH, Fla., May 3, 2004 Innkeepers USA Trust (NYSE: KPA), a hotel real estate investment trust (REIT) and a leading owner of upscale, extended-stay hotel properties throughout the United States, today...
PHR Managed Hilton Virginia Beach Oceanfront Books First Group; Opening Scheduled February 2005 / May 2004
February 28, 2004
Hotel Online Special Report PHR Managed Hilton Virginia Beach Oceanfront Books First Group; Opening Scheduled February 2005 VIRGINIA BEACH, Va. - (May 25, 2004) - Hilton Virginia Beach Oceanfront, the resort's anticipated luxury hotel, booked its first meeting with the Virginia Association of Assessing Officers. The conference, scheduled for October 5-7, 2005, will bring an estimated 225 people to the oceanfront resort. Scheduled to open in February 2005, the development project features a 300-room, full-service Hilton Hotel, an oceanfront community park, a 958-space public parking garage with an elevated walk...
Beware of Hidden Development Costs / Lee Simon – Drawing Conclusions / May 2004
February 28, 2004
Drawing Conclusions Foodservice Design By Lee Simon / The General Group / May 2004 Recently, I was in a coordination meeting for a large mixed-use project that featured several different restaurants within one large complex. The architect, engineers, and a number of other professionals were summoned to help determine the best possible route for exhausting the hoods that were on the lower level. The restaurant on the main floor had several hoods that needed to be exhausted to the outside. The problem was that the building was quite complex, and due to a variety of reasons (aesthetics, structural elements, codes, et...
European Airport Hotel Markets Have Had a Tough Time of Late; Heathrow and Gatwick Markets Suffered Double-digit revPAR Declines in 2003 / May 2004
February 28, 2004
Hotel Online Special Report European Airport Hotel Markets Have Had a Tough Time of Late; Heathrow and Gatwick Markets Suffered Double-digit revPAR Declines in 2003 May 17, 2004 - European airport hotel markets have had a tough time of late and Heathrow and Gatwick are no exception. Figures from the HotelBenchmark Survey by Deloitte show that when measured in Euros, both markets suffered double-digit revenue per available room (revPAR) declines in 2003. This is however in line with other European markets such as Amsterdam - Schiphol and Paris - Charles de Gaulle. Despite this decline, Heathrow remained the top-performi...
Nigeria-based Shelter Suites Limited, LLC Constructing a Hawthorn Suites Property in Abuja, Nigeria's Capitol City / May 2004
February 28, 2004
Hotel Online Special Report Nigeria-based Shelter Suites Limited, LLC Constructing a Hawthorn Suites Property in Abuja, Nigeria's Capitol City ATLANTA, May 11, 2004 - US Franchise Systems, Inc. (USFS), parent company of the franchisor of the Hawthorn Suites brand, has announced that a master franchise agreement with Nigeria-based Shelter Suites Limited, LLC will bring the Hawthorn Suites flag to western Africa. With the agreement, a Hawthorn Suites property has already broken ground in Abuja, Nigeria's capitol city. It will be the first foreign extended-stay hotel flag in Abuja and will serve as a model for ad...
The Shuttered Hastings Hotel and Conference Center in Hartford, Conn. May Find New Life as Culinary School / May 2004
February 28, 2004
Hotel Online News for the Hospitality ExecutiveBy Tom Puleo, The Hartford Courant, Conn.Knight Ridder/Tribune Business News May 19, 2004 - Hartford needs a shot of youthful energy, and the Connecticut Culinary Institute in Farmington needs more space. Both needs would be met under the small cooking school's plan to move to Hartford and remake the vacant Hastings Hotel and Conference Center into a new campus. "It's a big step -- it takes CCI and really puts us in a different realm," Brooke Baran, the school's director of public relations, said Tuesday. Through a business partnership called WE 85 Sigourney Street, the school has reached ...
Realty Capital and Harrell Hospitality Partner to Purchase and Renovate the 434 room Fort Worth Ramada Plaza Hotel / May 2004
February 28, 2004
Hotel Online Special Report Realty Capital and Harrell Hospitality Partner to Purchase and Renovate the 434 room Fort Worth Ramada Plaza Hotel Fort Worth, Texas (May 3rd, 2004) Harrell Hospitality (otcbb: HLTLA), the hotel management group based in Dallas, today announced that it has entered into a strategic alliance with Realty Capital Partners, Inc. of Colleyville, Texas. Realty Capital Partners is a real estate investment firm that has a successful track record in investing in commercial property developments across Texas, and the USA. Realty Capital has entered into a contract to purchase the ...
Technolgy Initiatives Play Pivotal Role for Harrah's Entertainment Financial Fortunes / May 2004
February 28, 2004
Hotel Online News for the Hospitality ExecutiveBy Chris Jones, Las Vegas Review-JournalKnight Ridder/Tribune Business News May 26, 2004 - Over the past few years, Harrah's Entertainment President Gary Loveman has shared with any and all who would listen his belief that technology has played a pivotal role in turning around his Las Vegas-based gaming company's financial fortunes. But the Harvard academic-turned-casino business executive wasn't always sold on the merits of databases and other high-tech tools, Loveman told an audience Tuesday at the Gaming Technology Summit at Green Valley Ranch. While attending the Massachusetts Instit...
Hampton Opens Seven Hotels in April 2004, Representing 647 New Construction Rooms / May 2004
February 28, 2004
Hotel Online Special Report Hampton Opens Seven Hotels in April 2004, Representing 647 New Construction Rooms MEMPHIS, Tenn., 2004 May 5 Hampton, the national brand of more than 1,250 mid-priced Hampton Inn® and Hampton Inn & Suites® hotels, today announced the opening of seven Hampton hotels in April 2004, representing 647 new rooms. The seven new openings, all of which are new developments and franchised properties, consist of five Hampton Inn hotels and two Hampton Inn & Suites hotels. "With more than 1,250 hotels, giving Hampton a strong brand presence in the U.S., the brand continues to see growth ...
February 28, 2004
Hotel Online Special Report Hampton Save-A-Landmark Program Seeking More Sites to Help in Program That Has Already Seen 19 Saved MEMPHIS, Tenn., May 3, 2004 Americas national parks are getting just two-thirds of the funding they need, leading to the deterioration of park facilities, estimates the National Parks Conservation Association. With preservation funds at an all-time low, Americas cultural and historical landmarks are threatened by decay and in danger of disappearing. This week, Hampton Hotels celebrates National Historic Preservation Week (May 3-8) by encouraging Americans to submit details...
Host Marriott Names Three General Managers of the Year – Stan Turner, Todd Walther, and Bill Skoglund / May 2004
February 28, 2004
Hotel Online Special Report Discount Hotels London, Sydney, Rome, AmsterdamParis, Melbourne, Lisbon, Barcelona, Berlin, Hong Kong, New York, Auckland Discount Hotels London, Sydney, Rome, AmsterdamParis, Melbourne, Lisbon, Barcelona, Berlin, Hong Kong, New York, Auckland Host Marriott Names Three General Managers of the Year - Stan Turner, Todd Walther, and Bill Skoglund Holds Inaugural 'Best in Class' Awards Celebration BETHESDA, Md., May 4, 2004 - Host Marriott Corporation (NYSE: HMT) today announced that it launched its inaugural "Best in Class" awards banquet at The Ritz-Car...
HITEC Adds Full Day of Sessions – Monday Sessions Will Focus on the Fundamentals of Hospitality Technology and the Essentials of Different Syst
February 28, 2004
Hotel Online Special Report Discount Hotels London, Sydney, Rome, AmsterdamParis, Melbourne, Lisbon, Barcelona, Berlin, Hong Kong, New York, Auckland Discount Hotels London, Sydney, Rome, AmsterdamParis, Melbourne, Lisbon, Barcelona, Berlin, Hong Kong, New York, Auckland HITEC Adds Full Day of Sessions - Monday Sessions Will Focus on the Fundamentals of Hospitality Technology and the Essentials of Different System Types AUSTIN, TEXAS; May 10, 2004 - The Hospitality Industry Technology Exposition and Conference (HITEC®) has appended a full day of education sessions to its schedul...
